Fortuna Silver Mines (NYSE:FSM) Price Target Raised to $11.50

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) had its price target boosted by stock analysts at CIBC from $10.00 to $11.50 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a “neutral” rating on the basic materials company’s stock. CIBC’s price objective would suggest a potential upside of 46.50% from the stock’s current price.

FSM has been the topic of several other reports. Pi Financial raised Fortuna Silver Mines from a “neutral” rating to a “buy” rating in a report on Friday, August 28th. Zacks Investment Research lowered Fortuna Silver Mines from a “buy” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets increased their target price on Fortuna Silver Mines from $8.25 to $11.25 and gave the stock an “outperform” rating in a report on Monday, August 17th. National Bank Financial reaffirmed a “hold” rating and issued a $10.50 price objective on shares of Fortuna Silver Mines in a research note on Thursday, July 23rd. Finally, Laurentian reaffirmed a “buy” rating and issued a $11.35 price objective on shares of Fortuna Silver Mines in a research note on Tuesday, August 18th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Fortuna Silver Mines has an average rating of “Buy” and an average price target of $8.97.

FSM stock traded up $0.27 during trading hours on Wednesday, hitting $7.85. 199,416 shares of the stock were exchanged, compared to its average volume of 3,822,120. The company has a current ratio of 1.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.39 billion, a P/E ratio of 778.78 and a beta of 1.32. The company has a 50-day simple moving average of $6.73 and a two-hundred day simple moving average of $4.45. Fortuna Silver Mines has a 12 month low of $1.47 and a 12 month high of $7.70.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $44.48 million for the quarter. Fortuna Silver Mines had a return on equity of 0.86% and a net margin of 0.50%. On average, equities research analysts predict that Fortuna Silver Mines will post 0.1 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC increased its holdings in Fortuna Silver Mines by 110.1% in the second quarter. Flagship Harbor Advisors LLC now owns 5,354 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 2,806 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Fortuna Silver Mines by 11.6% in the second quarter. Commonwealth Equity Services LLC now owns 34,949 shares of the basic materials company’s stock worth $177,000 after purchasing an additional 3,626 shares in the last quarter. Swiss National Bank increased its holdings in Fortuna Silver Mines by 1.4% in the first quarter. Swiss National Bank now owns 312,000 shares of the basic materials company’s stock worth $706,000 after purchasing an additional 4,400 shares in the last quarter. Profund Advisors LLC increased its holdings in Fortuna Silver Mines by 28.6% in the second quarter. Profund Advisors LLC now owns 20,541 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 4,571 shares in the last quarter. Finally, Quilter Plc increased its holdings in Fortuna Silver Mines by 13.6% in the second quarter. Quilter Plc now owns 51,057 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 6,132 shares in the last quarter. Institutional investors and hedge funds own 37.85% of the company’s stock.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.

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